What's your opinion on yesterday's Budget?

  TopCat® 10:53 20 Mar 2014
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On the whole, whilst taking into consideration the huge deficit that remains to be addressed, I thought it was quite a good one for most people.

Do you agree with me or not? Flak jacket and 'tin hat' at the ready I await your comments! :) TC.

  john bunyan 11:02 20 Mar 2014

It has only a small impact on most. I will gain a bit on income tax, but no doubt fuel and other price increases will swallow that. The huge problem he has is the budget deficit, and that hangs like millstone around any Chancellor's neck.

debtbombshell

A bit out of date but still a valid issue.

  fourm member 11:35 20 Mar 2014

john bunyan's response is an indication of how many people think.

They seem to disregard the personal allowance increases since 2010 and focus on increases in other taxes.

Yes, price increases have eroded the value of the decrease in income tax but, without the higher allowance, it would be much worse.

As to the budget in general, I like the higher ISA limit. I've never bothered to use a cash ISA as the extra interest on £5.5k didn't seem worth the bother but £15k gets me interested. As does the pensioner bond. I just hope there are some left when I qualify (2 months after the introduction).

I see some commentators are moaning about ending enforced annuities because they say some people will make a mess of managing their own money. For me I'm delighted to see the Chancellor say 'You're adults. You've shown you have the sense to make provision for yourself. I trust you to look after your own interests'.

I just wish Theresa May would take that line.

  Woolwell 11:36 20 Mar 2014

It was much better than I expected. Ed Milliband appears to have been out of his depth (now I must get the tin hat too).

The stupid bingo ad has offset any electoral gains.

  Quickbeam 11:45 20 Mar 2014

I'll still have to keep with the day job for a while yet...

  fourm member 11:52 20 Mar 2014

Woolwell

'Ed Milliband appears to have been out of his depth'

It is tempting to say that there's nothing new there but I have some sympathy for him on this occasion.

He genuinely has no prior knowledge of the speech so has to write his response as it goes on and keep in touch with what else is being said. If he misses something he may give the wrong impression about his reaction to it.

I didn't listen to his reply because it is a farce to expect anyone to have anything useful to say.

Actually, the whole business of delivering the budget in the house is a farce. There's always something different in the detail once experts get the chance to study it and it ends up causing unnecessary confusion.

The budget report should be released to everyone and debated in the Commons, two or three days later when everyone has had a chance to understand it.

  wiz-king 11:53 20 Mar 2014

I'm waiting for the small print - but it looks good to me according to the BBC's calculator I will be £234 better off.

  john bunyan 11:54 20 Mar 2014

fourm member

seem to disregard the personal allowance increases since 2010*

This year the allowance is accompanied by a small increase in the 40% tax threshold. In previous years any increase in the basic tax rate has been largely offset by a reduction or freezing of the higher rate (for those lucky enough to receive that level of income)

You are right of course for average earners.

  fourm member 13:07 20 Mar 2014

'largely offset'

That's my point.

The 'headline' (whether actual or in the way an individual talks) is that the 40% band hasn't moved up so more people are in the 40% bracket. The reality is that the personal allowance increase has benefited the lower earners without passing that benefit to the better off.

  spuds 13:51 20 Mar 2014

Like every budget, I suppose I am like most 'normal' person, and just accept what is laid and presented before us. Reading between the lines and doing the calculations is best left to the experts, or the politician's to argue about?.

The only thing that might effect me, is the kindness being showed towards the old age pensioner's, so on that basis I can only think that an election is not all that far away and some party might be seeking my vote?.

  fourm member 15:24 20 Mar 2014

spider9

The argument is that the 40% threshold hasn't increased with inflation. So, a hypothetical person who buys exactly the items that make up the inflation calculation and has had pay rises that exactly match inflation is now paying more tax at 40% in inflation adjusted terms. They haven't derived the full benefit of the increased personal allowance.

My last sentence should have said 'all of that benefit'.

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